HELSINKI, Finland, June 27, 2003 (PRIMEZONE) -- Proha Plc Stock Exchange Bulletin June 27, 2003 at 8.50 am
Proha Gives a Directed Share Issue
The Board of Directors of Proha Plc decided to increase the share capital of Proha Plc by giving a directed share issue to three Finnish investment funds. In the directed issue, 1,500,000 new Proha shares at EUR 0.625 each for EUR 937,500 in total were subscribed. The increase represents 2.9% of Proha's currently registered share capital and of the votes that can be cast in the General Meeting of Shareholders.
Proha Board of Directors has an authorization by the Annual General Meeting on April 24, 2003 to increase the company's share capital, deviating from the shareholders' pre-emptive subscription right, by no more than EUR 2,697,098.04. Pursuant to this authorization, the aggregate maximum number of new shares shall not exceed 10,373,454 shares with an account equivalent value of EUR 0.26. The Board of Directors is also authorized to decide the subscription price and other terms and conditions.
After the directed issue is registered in the Finnish Trade Register, the share capital of Proha Plc will be EUR 13,875,490.20 and the number of shares will be 53,367,270.
Proha in brief
Proha is a leading, globally operating portfolio and project management solution provider and one of the largest software companies in Finland. Proha's solutions help its corporate customers to carry out their strategies, allocate their resources productively and control their operative functions as profitably as possible. The Proha Group's net sales were EUR 100.8 million in 2002. Nearly 90% of net sales originate from outside Finland. The Group employs approximately 650 professionals with over 500 of them outside Finland.
Proha Plc Pekka Pere CEO More information PROHA PLCCEO Pekka Pere, tel +358 (0)20 4362 000 pekka.pere@proha.com www.proha.com
DISTRIBUTION: Helsinki Stock Exchange Major Media
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